NEW YORK — Marathon Petroleum Corp. has agreed to divest five of its New York state gas stations after an investigation by the state's attorney general raised concerns over the company's acquisition of several retail fuel stations and its impact on fair and competitive fuel prices in upstate New York's local market.
According to the New York Attorney General's Office and the Federal Trade Commission (FTC), Marathon's acquisition of a dozen Express Mart brand retailing fueling stations would substantially lessen competition in the markets of Rochester, Farmington, Fayetteville, Johnson City and Whitney Point. Marathon already owns and operates 234 motor fuel and convenience store retail establishments in New York through its wholly owned subsidiary, Speedway LLC, the Attorney General's Office said.
“Less competition means even higher prices at the pump for New Yorkers,” New York Attorney General Barbara Underwood said in a statement. “My office will continue to fight corporate consolidations that force consumers into paying higher prices.”
In addition to divesting five stores in the upstate New York local market, which will be purchased by Sunoco LP, Marathon has also agreed to notify the attorney general of any additional outlet purchases in the five local New York counties, according to Underwood's office.